China local government debt surges by 70%

China has local government debts of 17.7 trillion yuan ($2.9tn), up 70% from three years ago, according to an official report.

Africa also booming market for stolen cars

ABIDJAN: If luxury cars have become a more common sight on African roads, that is in part due to it becoming a prime destination for cars lifted off European streets.

China Warns Officials on Terror Attacks as Xi Shows Frugality

Chinese officials and police have been told to step up safety precautions in “key regions” and be on alert for terrorist attacks during the New Year and Spring Festival holidays amid ethnic tensions in Xinjiang.

Portugal deficit edges up in Quarter 3

LISBON: Portugal's budget deficit in the 12 months to the end of September edged up to 6.3 per cent of gross domestic product from 6.1 per cent at the end of June as spending rose more than revenues, official data showed on Friday.

U.S. Holiday Sales Rise 3.5%, SpendingPulse Says

U.S. retail sales rose 3.5 percent during the holiday season this year, helped by deep discounts at malls and purchases of children’s apparel and jewelry, MasterCard Advisors SpendingPulse said.

Mortgage approvals a third higher in November than last year

Mortgage approvals in Britain were more than a third higher in November than a year earlier as government subsidies for homebuyers helped the property recovery gather pace.

U.S. bank group launches Volcker rule legal challenge

(Reuters) - The American Bankers Association on Monday initiated a legal challenge to a provision of the "Volcker rule" that restricts bank ownership of certain investments.